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Emerging Market Currencies Hit Top Level
Emerging market currencies rose to a record high supported by a decline in the US dollar and expectations of a halt to US interest rate hikes, with the MSCI index increasing by 0.3%. The Malaysian ringgit and the Taiwanese dollar topped the gains, while the Hungarian forint led the rise among Central European currencies due to increasing foreign investment inflows. The emerging markets stock index also increased by 0.7% for the fourth consecutive day, with strong gains in technology stocks in Hong Kong and Taiwan, despite ongoing pressures on energy-importing countries' currencies due to geopolitical tensions. Markets are also awaiting the Federal Reserve's meeting minutes and decisions from Asian central banks.
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